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SENESCO To Build Walking Spud Barge

Maritime Activity Reports, Inc.

January 24, 2001

The Southeastern New England Shipbuilding Corp. (SENESCO) will build a 165 ft. dredge barge that will have the ability to walk along harbor floors. Boasting a trio of vertical spuds operated by winches, the forward spud will allow the barge to move without tug assistance.

The shipbuilding company formed the agreement with Sterling Equipment of East Boston, Mass.; the project's completion is scheduled for April 2001. A subsidiary of the Cashman Group - a major New England contractor - Sterling's contract is the 10th barge project for SENESCO.

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